Sector Update: Tech

03:27 PM EDT, 08/28/2026 (MT Newswires) -- Tech stocks were lower late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.6%. The Philadelphia Semiconductor index was down 3.4%. In corporate news, Microsoft (MSFT) workers have raised concerns about the impact of its AI data centers on energy use, water consumption, emissions, and local communities, Bloomberg reported, citing Development Chief Noelle Walsh's memo to employees. Microsoft shares were up 1.7%.